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Sandhill SA reported the following balances at December 31, 2019: share capital-ordinary 570,000, share premium-ordinary 120,000, and retained earnings 285,000. During 2020, the following
Sandhill SA reported the following balances at December 31, 2019: share capital-ordinary 570,000, share premium-ordinary 120,000, and retained earnings 285,000. During 2020, the following transactions affected equity. 1. Issued preference shares with a par value of 140,000 for 220,000. 2. Purchased treasury shares (ordinary) for 40,000. 3. Earned net income of 179,000. 4. Declared and paid cash dividends of 57,000. Prepare the equity section of Sandhill SA's December 31, 2020, statement of financial position.
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